Investor interest in cryptocurrency is growing due to increasing adoption and positive sentiment.

From Nasdaq

August 13, 2024 3:37:49 pm:

Bitcoin and cryptocurrencies are rebounding this year, gaining adoption and positive sentiment after a turbulent period. Institutional acceptance, ETF approvals, and growing interest from investors have boosted the industry. A Morning Consult survey showed 17% of US adults owned cryptocurrency in May, with 25% considering purchasing soon. The global crypto market cap is at $2.14 trillion, with bitcoin at $60,896.

Experts believe bitcoin and crypto remain good investments due to growing institutional acceptance, ETF legitimacy, and bitcoin’s scarcity as a hedge against volatility and inflation. ETFs make it easier for investors to access crypto, democratizing its ownership. Assets under management of crypto investment products have recovered to $85 billion. The macroeconomic outlook is shifting, leading to increased portfolio diversification with crypto assets.

Markus Levin attributes the rise in crypto prices to growing adoption, suggesting future drawdowns may not be as intense due to increased usage. Some experts predict a post-election rally for bitcoin, with potential price surges exceeding $100,000 under a Trump presidency. This optimism is based on historical price trends and increased adoption.

Read more at Nasdaq: 17% of Americans Are Invested in Cryptocurrency — Should You Invest?